Helping identify pay gaps, CURO Pay Equity offers employers insight into the underlying matters contributing to these disparities. In understanding the drivers of pay inequity, organisations can mitigate risk, protect their brand and champion diversity and inclusion across the workforce. The addition of Root Cause Analysis to CURO Pay Equity highlights additional issues that lead to potential gaps, such as policy concerns.
“An organisation’s understanding of pay equity should extend beyond statistical analysis and pay remediation. Recognising root causes allows employers to address systemic and structural issues, rather than just the symptoms,” said Ruth Thomas, Co-Founder and Senior Consultant at CURO. “Much of what drives pay inequity in organisations is not pay-related but often the result of barriers to entry and career progression for certain groups of employees throughout the talent lifecycle. It’s not necessarily about equal pay but pay equality, which means creating an environment where all employees have the opportunity to earn the same.”
The update further enhances CURO Pay Equity’s ability to support a complete pay equity analysis. Through interactive charts, employers can determine whether a compensable factor, including experience, education or performance, has the expected impact on pay across the organisation and by comparable groups.
Thomas concluded, “At CURO, we believe a holistic pay equity audit provides a complete understanding of factors that drive wage inequality. Our clients have found the Root Cause Analysis very powerful when communicating uncovered policy issues to senior leaders. That’s what we want CURO technology to do because we think everyone should have equal opportunity to reach their full potential, regardless of identity, background or circumstance.”